18698 Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices 

15 15 U.S.C. 78f(b). 

16 15 U.S.C. 78f(b)(5). 

17 17 CFR 200.30–3(a)(12). 

1 15 U.S.C.78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4 15 U.S.C. 78s(b)(3)(A)(iii). 

5 17 CFR 240.19b–4(f)(6). 

information to a Floor Official. The 

proposal would amend Amex Rule 950–

ANTE(a) (incorporating Rule 177 to 

options) obligating the ABC, as well as 

an options specialist, to report to a Floor 

Official those activities and such 

information as delineated in Amex Rule 

177. 

c. Implementation 

Finally, to ensure a smooth and 

orderly transition of the responsibility 

for operating customer limit order book 

and executing agency orders from 

options specialists to ABCs, the 

Exchange proposes to implement this 

rule change to all applicable trading 

posts over a 180-day period from the 

effective date of this rule change. During 

this 180-day transition period, any 

options specialist who continues to 

operate the customer limit order book 

would continue to be subject to the 

same agency obligations as currently 

provided under Amex Rules 950–

ANTE(l) and 958A–ANTE(e), except 

that, upon the approval of this proposal, 

these prior obligations instead would be 

reflected in a Regulatory Circular during 

the 180-day transition period. 

2. Statutory Basis 

Amex believes the proposed rule 

change is consistent with Section 6(b) of 

the Act 15 in general and furthers the 

objectives of Section 6(b)(5) of the Act 16

in particular in that it is designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in regulating, clearing, 

settling, processing information with 

respect to, and facilitating transactions 

in securities, to remove impediments to 

and perfect the mechanism of a free and 

open market and a national market 

system, and, in general, to protect 

investors and the public interest; and is 

not designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers, or to 

regulate by virtue of any authority 

conferred by the Act matters not related 

to the purpose of the Act or the 

administration of the Exchange. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange believes that this 

proposed rule change would not impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 35 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

As the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding, or 

(ii) as to which the Exchange consents, 

the Commission will: 

(A) By order approve the proposed 

rule change, or 

(B) Institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to 

rule-comments@sec.gov. Please include 

File Number SR–Amex–2006–107 on 

the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–Amex–2006–107. This file 

number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for inspection and copying in 

the Commission’s Public Reference 

Room. Copies of the filing also will be 

available for inspection and copying at 

the principal office of the Exchange. All 

comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–Amex–2006–107 and 

should be submitted on or before May 

4, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.17

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–6960 Filed 4–12–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55602; File No. SR–Amex–

2007–33] 

Self-Regulatory Organizations; 

American Stock Exchange LLC; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change Relating to 

the Extension of the Allocation and 

Performance Evaluation Procedures 

for Securities Admitted to Dealings on 

an Unlisted Basis 

April 9, 2007. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on April 3, 

2007, the American Stock Exchange LLC 

(the ‘‘Amex’’ or ‘‘Exchange’’), filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been substantially prepared by 

Exchange. The Exchange has designated 

this proposal as non-controversial under 

Section 19(b)(3)(A)(iii) of the Act 4 and 

Rule 19b–4(f)(6) thereunder,5 which 

renders the proposed rule change 

effective upon filing with the 

Commission. The Commission is 

publishing this notice to solicit 


pwalker on PROD1PC71 with NOTICES
Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices 18699 

6See Securities Exchange Act Release No. 45698 

(April 5, 2002); 67 FR 18051 (April 12, 2002) (SR–

Amex–2001–107) and 46750 (October 30, 2002), 67 

FR 67880 (November 7, 2002) (SR–Amex–2002–19). 

7See Securities Exchange Act Release No. 47779 

(May 1, 2003), 68 FR 24777 (May 8, 2003). 

8See Securities Exchange Act Release No. 48657 

(October 17, 2003), 68 FR 61025 (October 24, 2003). 

9See Securities Exchange Act Release No. 49613 

(April 26, 2004); 69 FR 24204 (May 3, 2004). 

10See Securities Exchange Act Release No. 52004 

(July 8, 2005); 70 FR 41061 (July 15, 2005) 

(retroactively reinstating the Pilot Program to April 

6, 2005, and extending it through and including 

April 6, 2006). 

11See Securities Exchange Act Release No. 53649 

(April 13, 2006); 71 FR 20425 (April 20, 2006). 

12 15 U.S.C. 78f. 

13 15 U.S.C. 78f(b)(5). 

14 15 U.S.C. 78s(b)(3)(A). 

15 17 CFR 240.19b–4(f)(6). 

16 17 CFR 240.19b–4(f)(6)(iii). Rule 19b–4(f)(6)(iii) 

requires that a self-regulatory organization submit 

to the Commission written notice of its intent to file 

the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. On March 26, 

2007, the Exchange provided such notice to the 

Commission in the form of a draft version of the 

proposed rule change. Despite providing such 

notice to the Commission, the Exchange 

subsequently requested that the Commission waive 

the five-day prefiling requirement. The Exchange’s 

request to waive the five-day prefiling requirement 

is moot given that the Exchange has satisfied it by 

submitting the draft version of the proposed rule 

change. 

17 17 CFR 240.19b–4(f)(6)(iii). 

18For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s on efficiency, competition, and 

capital formation. See 15 U.S.C. 78c(f). 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Amex seeks a one year extension of its 

allocations and performance evaluation 

procedures for securities admitted to 

dealings on an unlisted trading 

privileges (‘‘UTP’’) basis to permit these 

programs to remain in effect while the 

Commission considers permanent 

approval of these procedures. 

The text of the proposed rule change 

is available on the Amex’s Web site at 

http://www.amex.com, the Exchange’s 

Office of the Secretary, and at the 

Commission’s Public Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule changes and 

discussed any comments it received 

regarding the proposal. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange is proposing to extend 

its allocations and performance 

evaluation procedures for securities 

admitted to dealings on an unlisted 

trading privileges basis (the ‘‘Pilot 

Program’’) from April 6, 2007 through 

and including April 6, 2008. The text of 

the rules shall remain unchanged. The 

Commission previously approved, on a 

pilot basis, the Exchange’s allocation 

and performance evaluation procedures 

for securities admitted to dealings on an 

unlisted trading privileges basis through 

two independent approval orders.6 In 

2003, the Pilot Program was extended 

through October 5, 2003 7 and April 5, 

2004.8 In 2004, the Pilot Program was 

extended through April 6, 2005.9 In 

2005, the Pilot Program was extended 

through April 6, 2006.10 In 2006, the 

Pilot Program was extended through 

April 6, 2007.11 The instant proposed 

rule change makes no substantive 

change to the Pilot Program other than 

to extend it through and including April 

6, 2008. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6 of the Act 12 in general and 

furthers the objectives of Section 

6(b)(5) 13 in particular in that it is 

designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, 

and to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule change will impose 

no burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

Written comments on the proposed 

rule change were neither solicited nor 

received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the proposed rule change 

does not: (1) Significantly affect the 

protection of investors or the public 

interest; (2) impose any significant 

burden on competition; and (3) become 

operative for 30 days after the date of 

the filing, or such shorter time as the 

Commission may designate if consistent 

with the protection of investors and the 

public interest, the proposed rule 

change has become effective pursuant to 

Section 19(b)(3)(A) of the Act 14 and 

Rule 19b–4(f)(6) thereunder.15

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

such rule change if it appears to the 

Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors, 

or otherwise in furtherance of the 

purposes of the Act. 

A proposed rule change normally may 

not become operative prior to 30 days 

after the date of filing.16 However, Rule 

19b–4(f)(6)(iii) 17 permits the 

Commission to designate a shorter time 

if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has requested 

that the Commission waive the 30-day 

operative delay. The Commission 

believes that waiver of the 30 day 

operative delay is consistent with the 

protection of investors and the public 

interest because the proposed rule 

change would merely permit the 

continuation of the Pilot Program in its 

current form on an uninterrupted basis 

through and including April 6, 2008.18

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send e-mail to rulecomments@sec.gov. Please include File 

Number SR–Amex–2007–33 on the 

subject line. 


pwalker on PROD1PC71 with NOTICES
18700 Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices 

19 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A). 

4 17 CFR 240.19b–4(f)(2). 

5See 17 CFR 242.610(c)(2). 

6 15 U.S.C. 78f. 

7 15 U.S.C. 78f(b)(4). 

8 15 U.S.C. 78s(b)(3)(A)(ii). 

9 17 CFR 240.19b–4(f)(2). 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–Amex–2007–33. This file 

number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for inspection and copying in 

the Commission’s Public Reference 

Room. Copies of such filing also will be 

available for inspection and copying at 

the principal office of the Amex. All 

comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–Amex–2007–33 and should 

be submitted by May 4, 2007. 

For the Commission by the Division of 

Market Regulation, pursuant to delegated 

authority.19

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–7054 Filed 4–12–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55595; File No. SR–CHX–

2007–14] 

Self-Regulatory Organizations; 

Chicago Stock Exchange, Inc.; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change Relating to 

Participant Fees and Credits 

April 6, 2007. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on March 23, 

2007, the Chicago Stock Exchange, Inc. 

(‘‘CHX’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

substantially prepared by the Exchange. 

CHX has filed the proposal pursuant to 

Section 19(b)(3)(A) of the Act 3 and Rule 

19b–4(f)(2) thereunder,4 which renders 

the proposal effective upon filing with 

the Commission. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

CHX proposes to amend its Fee 

Schedule to confirm that it will not 

charge a fee or pay a credit in 

connection with the execution, in the 

Matching System, of a single-sided 

order for 100 or more shares at a price 

less than $1.00 per share. The text of the 

proposed rule change is available at 

CHX, the Commission’s Public 

Reference Room, and http:// 

www.chx.com/rules/ 

proposed_rules.htm. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

CHX included statements concerning 

the purpose of and basis for the 

proposed rule change and discussed any 

comments it received on the proposed 

rule change. The text of these statements 

may be examined at the places specified 

in Item IV below. CHX has prepared 

summaries, set forth in Sections A, B, 

and C below, of the most significant 

aspects of such statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend its 

Fee Schedule to confirm that it will not 

charge a fee or pay a credit in 

connection with the execution, in the 

Matching System, of a single-sided 

order for 100 or more shares at a price 

less than $1.00 per share. This provision 

is designed, in part, to confirm that the 

Exchange will not charge a fee that is 

greater than the maximum access fee set 

out in Rule 610(c)(2) of Regulation 

NMS.5 It also confirms that the 

Exchange has determined that it would 

not be appropriate to provide a credit in 

connection with these no-cost 

executions. 

2. Statutory Basis 

CHX believes that the proposed rule 

change is consistent with the provisions 

of Section 6 of the Act,6 in general, and 

with Section 6(b)(4) of the Act,7 in 

particular, in that the proposal provides 

for the equitable allocation of reasonable 

dues, fees, and other charges among its 

members. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will result in 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 8 and 

subparagraph (f)(2) of Rule 19b–4 

thereunder 9 because it establishes or 

changes a due, fee, or other charge 

applicable only to a member imposed by 

the self-regulatory organization. 

Accordingly, the proposal is effective 

upon Commission receipt of the filing. 

At any time within 60 days of the filing 

of the proposed rule change, the 

Commission may summarily abrogate 

such rule change if it appears to the 

Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors, 

or otherwise in furtherance of the 

purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 


pwalker on PROD1PC71 with NOTICES